Entries in Judge Jed S. Rakoff
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Judge Jed Rakoff of the U.S. district court in New York on Wednesday ordered Bank of America to pay a $1.27 billion fine for fraud perpetrated by Countrywide Financial Corp., a mortgage company the bank acquired in 2008.

It’s not just the language that divides us. On June 4 the United States Court of Appeals for the Second Circuit handed down its judgment in SEC v. Citigroup Global Markets, Inc. This was not, as the citation suggests, a titanic battle fought to legal death but rather the parties coming together to challenge a federal judge’s decision not to endorse a settlement between them. The SEC and Citigroup were at one in their submissions to the appellate court.

U.S. Federal District Judge Jed S. RakoffA three-judge panel of the United States Court of Appeals for the Second Circuit ruled Wednesday that Judge Jed S. Rakoff made a mistake when he rejected a negotiated settlement between the SEC and Citigroup three years ago.

In the New York Review of Books, Jed S. Rakoff, U.S. District Judge for the Southern District of New York, wonders why the high-level executives who brought us to the brink of collapse in the recent financial crisis have escaped prosecution.